Airports Council International (ACI) World has unveiled its latest Airport Economics Report and Key Performance Indicators (KPIs), highlighting a critical gap: while global passenger traffic exceeded pre-pandemic levels in 2024, airport revenues have yet to fully recover.
In 2024, airports worldwide handled 9.4 billion passengers, a 4% increase over 2019 figures. However, airport revenues remain 2.1% below pre-pandemic benchmarks, reflecting a slower financial recovery. This disparity emphasizes the urgent need for robust airport funding and supportive regulatory policies to ensure sustainable connectivity, operational improvements, and future infrastructure development to accommodate growing passenger demand and economic expansion.
The report comes at a time of heightened volatility in the aviation sector, with challenges such as airspace constraints, evolving route networks, and rising operating costs further straining airport finances globally.
Key Insights on Global Airport Financial Performance (2024):
- Passenger Traffic: 9.4 billion passengers served, surpassing 2019 levels by 4%.
- Total Revenues: US$194.9 billion, still 2.1% below pre-pandemic levels in real terms.
- Aeronautical Revenues: Representing 54% of total revenues, these remained 3% below 2019 levels, with recovery expected in 2025.
- Non-Aeronautical Revenues: Accounting for 37% of total revenues, these lagged 9% behind 2019 levels, with full recovery projected by mid-2026.
- Return on Invested Capital (ROIC): Increased to 6.3% in 2024 but remains below the sector’s weighted average cost of capital (WACC), signaling ongoing financial challenges.
- Future Outlook: From 2026 onward, airport revenues are expected to surpass pre-pandemic levels, aligning with passenger demand growth. However, recovery will hinge on factors such as financing conditions, inflation, regulatory policies, and geopolitical stability.
“While passenger demand has rebounded, airport revenues are still playing catch-up, highlighting the financial pressures airports continue to face,” said ACI World Director General Justin Erbacci. “With global air travel demand poised for significant growth in the coming decades, policymakers must champion regulatory frameworks that empower airports to build financial resilience and invest in the infrastructure essential for sustaining connectivity and driving economic growth.”
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